Last Updated: 04/18/2025
Elastic
Claimed
Last Updated: 04/18/2025
SuperMoney User Recommendation Score -28
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APR (Fee-Based Product)
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Elastic Review
Elastic FAQ
What APRs does Elastic offer?
Does the Elastic charge an origination fee?
Does the Elastic charge a cash advance fee?
Yes, Elastic may charge a fee of 5% to 10% of the amount of each cash advance.Does the Elastic charge a statement balance fee?
Does Elastic charge a late fee?
No, Elastic will not charge you a late fee .How much can you borrow via Elastic?
| Cash Advance Fee | 5% - 10% |
| Origination Fee | No |
| Prepayment Fee? | No |
| Late Payment Fee | No |
| Statement Balance Fee | $5 - $350 |
| Billing Cycle Charge | No |
What do you need to qualify for Elastic?
Elastic does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.- Applicants must have an active and valid personal checking account
- Proof of identity
- Proof of citizenship or residence permit
- Proof of residence
What is the estimated funding time for a personal line of credit via Elastic?
Elastic will typically fund personal lines of credit within 1 business day of approval.Does Elastic report your account activity to credit bureaus?
- Clarity Services
Does Elevate Credit perform a hard credit pull?
How to apply for Elastic
- Visit the Elastic website.
- Fill in the application form. You will typically need to provide general information such as your name, address, email address, Social Security Number, source of income and employment, and checking account information.
- Check the information is accurate and submit your application.
Elastic Disclosure: The Elastic line of credit is offered by Republic Bank & Trust Company, member FDIC. Cash Advances requested and approved by 6:00 p.m. ET (3:00 p.m. PT) are typically funded the next business day if you elect to receive your Cash Advance by direct deposit. Each Cash Advance from the Elastic line of credit is subject to a 5% or 10% Cash Advance Fee depending on your billing cycle. A portion of your principal is due each billing cycle, and if you have an ongoing balance, a Minimum Charge of $0.00 to $270.00 will apply. Consult the Elastic Credit Agreement and Terms and Conditions for additional information. Elastic is an expensive form of credit and should not be used as a long term solution. You may be eligible for an Elastic Account if you meet and maintain certain criteria established by us, which may change at our discretion. As of the effective date of these Terms & Conditions, the eligibility criteria are as follows: You are not a Covered Borrower under the Military Lending Act (32 C.F.R. § 232) at the time of application; You are at least 18 years old (or at least 19 years old if you are a resident of Alabama or Nebraska); You reside in a state in which we offer Elastic; You have a regular source of income or benefits; You have at application and maintain a valid Checking Account; You make payments using one of the payment options described in the Terms & Conditions; You provide a valid e-mail address and consent to receive electronic disclosures; You meet our credit underwriting standards; and You agree to and are not in default of the Terms & Conditions. Your Elastic Account is established upon approval and verification of the information in your Application.
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